Get your Twinkies now....hostess...he gone

[Ndaccountant]

Hostess is trying to enter liquidation after falling on hard times and entering bankruptcy within the last year. This is an interesting tale considering that Hostess really should have been liquidated years ago when it first came out of bankruptcy.

Typical finger pointing....hedge funds / PE saying union contracts are to blame. Unions saying that the hedgies and PE are sucking blood from the company. The interesting fact here tho is that one of the major capital infusions from the first bankruptcy came from a guy that was trying to rescue companies with strong union ties to help bolster strength of unions.

It's an intersting story and you hate to see people lose their jobs, but this is a classic case of the brand is worth more than the product.

Hostess Brands closing for good due to bakers strike - Nov. 16, 2012

Hostess is bankrupt … again - Fortune Management

 

[Buster Bluth]

Good. This is akin to a cigarette company going out of business. They make poison.

 

[In Lou I Trust]

RIP delicious cakes...

 

[NoJusticeNoPeace]

Good. This is akin to a cigarette company going out of business. They make poison.

Completely agree. Bummer about people losing jobs but that stuff is terrible for people. America will be better off.

 

[woolybug25]

Hostess shut down: Twinkie maker to go out of business - chicagotribune.com

So yes... our greatest fear is now a reality. There will be no more Twinkies. I went to the store and bought the last three boxes at my grocery store. One for my wife, two to sell on Ebay (i'm a vegan, mind). Went to another store, sold out. They are going for mucho bucks on Ebay.

What has the world come to?

Good night, sweet prince....

 

[tadman95]

End of the Free World as we know it.

 

[NoJusticeNoPeace]

The good sign is that not enough people bought them for them to stay in business so maybe America is wising up to the garbage we are being fed.

 

[tadman95]

Cold pizza, cold milk, and a Hostess Cupcake!

Breakfast of Champions!

 

[Irish Houstonian]

There will still be Twinkies -- the brands will just be bought at liquidation.

That said, looks like the union's plan to fight an 8% pay decrease backfired. Now they all got 100% pay decreases.

 

[WaveDomer]

Twinkies are not good for you, but we all have free will, right? So I'm not one to celebrate a company going out of business because they sold something that is looked upon as unhealthy. What? You don't eat a Milky Way every so often? And as an FYI: soda, flavored fruit drinks and green tea in cans, some cereal bars, and some margarine are all worse for you than a Twinkie. Maybe they should go out of business too. This world would suck some major a$$ if we couldn't partake in some vices now and then. When they come to outlaw football due to injuries, I will toast it with a Twinkie, an Arizona green tea, and a Camel.

 

[notredomer23]

These are better anyway

 

[woolybug25]

You guys took a funny topic and sucked the funny right out of it.

 

[FightingIrishLover7]

TWINKIES:

They can survive a nuclear explosion, but still no match against our economy.

RIP

 

[irishff1014]

There will still be Twinkies -- the brands will just be bought at liquidation.

That said, looks like the union's plan to fight an 8% pay decrease backfired. Now they all got 100% pay decreases.

Thats what they get typical Union.

 

[woolybug25]

Thats what they get typical Union.

Yeah.. it's the unions fault. Because the unions are the reason that Hostess has had declining revenues for years. It was a poorly ran company, plain and simply.

Unions don't make companies lose sales, they hurt profitability. Hostess's problem was declining revenue.

 

[irishff1014]

Unions were designed to help people not hurt them. If they had taken the paycut like lot of people would have done the still would be an employee. Unions want you to do less work and make more money. Unions don't care about the good of the employee.

 

[yankeeND]

This is pretty much terrible! Sad sad day for fat kids like me

 

[woolybug25]

Unions were designed to help people not hurt them. If they had taken the paycut like lot of people would have done the still would be an employee. Unions want you to do less work and make more money. Unions don't care about the good of the employee.

Regardless of how you feel about unions, they arent the reason that Hostess fell and I think its kinda odd that you feel that the 18,000 people that lost their jobs "got what they deserved" because they were part of a union. The empoyees taking a pay cut wouldn't have helped Hostess stay viable either. On the other hand, i'm sure the executives that have been raiding their retained earnings and watched revenues plummet without taking a pay cut are swell fellas.

 

[tadman95]

Regardless of how you feel about unions, they arent the reason that Hostess fell and I think its kinda odd that you feel that the 18,000 people that lost their jobs "got what they deserved" because they were part of a union. The empoyees taking a pay cut wouldn't have helped Hostess stay viable either. On the other hand, i'm sure the executives that have been raiding their retained earnings and watched revenues plummet without taking a pay cut are swell fellas.

Yea if the only thing keeping them from being solvent was employee wages, they were in trouble.

 

[Me2SouthBend]

The good news is that twinkies have a half life like Plutonium 232 as opposed to a shelf life like a fruit or vegetable. These things could be put in storage for years and still taste the same as they would today. Buy a box now and sell them 10 years from now. You'll get a Googlesque return on your $.

 

[RyCo1983]

These are better anyway

Damn right brother.

 

[phork]

The various units will be sold off, and our cakes will live on.

 

[Irish Houstonian]

Yea if the only thing keeping them from being solvent was employee wages, they were in trouble.

Had more people crossed the picket line they would have at least stayed open longer, and/or been a candidate for reorganization rather than liquidation.

Obviously there's no one thing to blame when a company goes under, but it's undisputed that this strike hastened liquidation, and thousands of employees lost their jobs prematurely because of an unwillingness to take a pay cut.

 

[irishff1014]

Regardless of how you feel about unions, they arent the reason that Hostess fell and I think its kinda odd that you feel that the 18,000 people that lost their jobs "got what they deserved" because they were part of a union. The empoyees taking a pay cut wouldn't have helped Hostess stay viable either. On the other hand, i'm sure the executives that have been raiding their retained earnings and watched revenues plummet without taking a pay cut are swell fellas.

Obvious there is other reasons that they closed but the workers striking didn't help keep the doors open. People wonder why jobs leavethe country this is one of the reasons. unions drive the price of wages up. I am not glad that 16,000+ people lost their jobs but when you join the Union you know what comes with that. You know what the price you could pay for being part of that.

 

[irishff1014]

Had more people crossed the picket line they would have at least stayed open longer, and/or been a candidate for reorganization rather than liquidation.

Obviously there's no one thing to blame when a company goes under, but it's undisputed that this strike hastened liquidation, and thousands of employees lost their jobs prematurely because of an unwillingness to take a pay cut.

Yup you said it better then i did. but i agree.

 

[irishpat183]

There will still be Twinkies -- the brands will just be bought at liquidation.

That said, looks like the union's plan to fight an 8% pay decrease backfired. Now they all got 100% pay decreases.

LOL.....

 

[tadman95]

Had more people crossed the picket line they would have at least stayed open longer, and/or been a candidate for reorganization rather than liquidation.

Obviously there's no one thing to blame when a company goes under, but it's undisputed that this strike hastened liquidation, and thousands of employees lost their jobs prematurely because of an unwillingness to take a pay cut.

I would guess that this outcome was not only planned, but maybe even counted on so they could get out from under the debt. They will be sold off, the deals are probably under discussion if not already settled.

Your observation, while probably true, is short sighted and is the tail wagging the dog. Can't blame everything on the unions guys. Many companies such as theirs have struggled in the healthier life style atmosphere.

 

[Irish#1]

Yeah.. it's the unions fault. Because the unions are the reason that Hostess has had declining revenues for years. It was a poorly ran company, plain and simply.

Unions don't make companies lose sales, they hurt profitability. Hostess's problem was declining revenue.

You're right and the reason was their products were always about $1.00 - $1.50 more a box than the competitors.

Buy a couple of boxes and put them away. In 25 years you could probably sell them for $25-$50 a box. I used to freeze the Twinkies, then nuke them for 30 secs. The outside was nice and warm and the filling was cold but not frozen. Ahhhh......My childhood! lol

 

[drayer54]

Unions were designed to help people not hurt them. If they had taken the paycut like lot of people would have done the still would be an employee. Unions want you to do less work and make more money. Unions don't care about the good of the employee.

Take the union ranting off topic crap somewhere else. This is laughable. Unions are like everything else.. some good.. some bad.

But don't pretend that's the reason the company went under and take the union bashing out of my twinkie picture thread.

 

[Riddickulous]

People will still buy the cheap knockoffs from other brands.